โค๏ธ๐๐ฟXRPโs price saw a nice 5% pump today, possibly thanks to rising hopes of a U.S. interest rate cut in September. But donโt celebrate just yet โ storm clouds are forming on the charts.
Crypto analyst Ali Martinez has spotted a โdeath crossโ on XRPโs Market Value to Realized Value (MVRV) chart. This pattern shows up when the 50-day simple moving average (SMA) drops below the 200-day SMA โ a classic bearish signal.
๐ก What Does It Mean?
The MVRV ratio tells us whether XRP holders are sitting on profits or losses. Right now, short-term holders (those who bought in the last 50 days) are seeing fewer gains โ or even losses โ compared to long-term holders.
Thatโs dangerous, because when short-term holders are in the red, theyโre more likely to sell. This increases sell pressure and can pull the price down even more.
๐ This Has Happened Beforeโฆ
Back in mid-May, the same death cross pattern appeared. After that, XRP dropped from $2.65 to $1.90 in under 6 weeks. Thatโs a serious warning sign.
Even though XRP gained today, it might just be a short-lived bounce โ not the start of a full recovery.
๐ Exchange Inflows: Another Red Flag
Traders are getting nervous. For five days straight, XRP was leaving exchanges โ usually a bullish sign. But since Sunday, thatโs changed.
On Sunday, $27 million worth of XRP flowed back into exchanges.
As of today, another $15 million has joined them.
Thatโs 44 million XRP hitting exchanges in just two days โ and this didnโt even happen during last weekโs dip. When coins move to exchanges, it often means people are getting ready to sell.
๐ฉธ XRP Still in the Danger Zone
So yes, the price rose today. But with the death cross forming and exchange inflows rising, XRP might be heading for another pullback.
Caution is key right now. XRP may not be out of the woods just yet.
